Monday, November 4, 2019

Keystone sells Blue Bell office buildings

Natalie Kostelni Reporter Philadelphia Business Journal
Keystone Property Group sold for $34 million Four and Five Sentry Park, a three-building office complex in Blue Bell, that totals 196,273 square feet.

Hudson Equities, a Jersey City, N.J., real estate company, bought the properties that were combined 93% occupied by 23 tenants at the time of sale. Four Sentry involves one building while Five Sentry consists of two buildings noted as Five Sentry East and Five Sentry West.

Keystone bought Four and Five Sentry in 2013 as part of a larger acquisition of Mack-Cali Corp.’s Philadelphia suburban office portfolio. The Conshohocken real estate company invested $5 million on improvements to the complex including adding amenities such as a fitness center, conference rooms, lounge and patio area. Other upgrades included a roof deck, facade work and new landscaping. The buildings were put up for sale in July 2018.

Full story: https://tinyurl.com/y5uhfzp7
www.omegare.com

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